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MNI Global Morning Briefing

     LONDON (MNI) - Thursday does not have much colour to it other than some key
releases early on for the Eurozone and the UK. 
     Starting in Europe at 0800GMT is the Eurozone current account data for
February. January's trade data saw a current account nsa surplus of EUR 12.8
     This is followed up in the UK with Retail Sales at 0830GMT. If analysts
forecasts are anything to go by, March is likely to be a bad month for retail
sales with m/m growth including and excluding fuels expected to contract 0.8%.
February saw m/m growth of 0.8% in retail sales including fuels and 0.6%
excluding fuels. 
     The level of U.S. initial jobless claims (1230GMT) is expected to fall by
4,000 to 229,000 in the April 14 employment survey week after a 9,000 decrease
in the previous week. Claims were at a level of 227,000 in the March 17
employment survey week. The four-week moving average would rise by 500 in the
coming week, as that 227,000 level in the March 17 week drops out of the
calculation, assuming the MNI forecast is correct and there are no revisions.
Another release in the US also at 1230GMT is the Philadelphia Fed reading which
is forecast to slow to a reading of 20.5 from 22.3 in March.
     Canada's investment in non-residential building figures will also be
released at 1230GMT and is the last of the data in the afternoon. 
     Closing out the calendar at 2330GMT is Japan's CPI figures. February's core
national CPI y/y was at 1% and is forecasted to drop slightly in February by
analysts to 0.9%. 
--MNI London Bureau; tel: +44 203-586-2225; email:
MNI London Bureau | +44 203-865-3812 |